Today, New York City hosted its first crypto summit.
I attended the event, where many of the attendees implored the mayor to end the BitLicense — or at least turn NYC into a "Bitcoin and crypto sanctuary city."
More in my report:
Discussion
Bitlicense is a NY DFS thing. As much as the NYC mayor would want, he doesn't really have the power to end it. NY legislators and the governor need to get their act together and repeal it.
This is true. But there was talk of creating a regulatory sandbox for NYC where the city wouldn’t be subject to the BitLicense. There’s precedent for the mayor of the city taking creating such an executive order. I discuss this in the piece.
Ya, I just read the article. I commented and then read it. Ooops!
That would be cool. Hopefully NY starts to see the overall trend and momentum gathers to put pressure on the state lawmakers to repeal the Bitlicense. NY is so far behind all other states in this industry.
No worries.
Exactly. This is my hope, as well. NY needs to catch up.
Benjamin Lawsky's Bitlicense is superfluous and now inconsistent with US National Cryptocurrency policies. New Yorkers should press for its removal asap. https://www.reddit.com/r/Bitcoin/comments/2aycxs/hi_this_is_ben_lawsky_at_nydfs_here_are_the/
